Insurance planning is to protect yourself, your family and loved ones, your home, your assets, or your business against unexpected events. Insurance planning is a critical component of a comprehensive financial plan that includes evaluating risks and determining the proper insurance coverage to mitigate those risks. Carrying insurance is crucial, but the most important aspect is carrying the appropriate type of insurance. Each person has different insurance needs tied to his/her unique situation, age, health, family structure, economic status, possessions, assets, and many other factors. There are several forms of insurance and there is no "one size fits all". (This is why we need the insurance planning!)